Irvine Housing Blog

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A Closer Look at Housing in Irvine’s University Park Posted: 30 May 2012 05:00 AM PDT Today we’ll take a look at Irvine’s University Park neighborhood. First, the numbers: University Park—April 2012: Area List Price/ # Homes Listed Sold Price/ #Homes Sold Median List/SF Median Sold/SF % Chg Y-O-Y Sold Price/SF Houses $624K/12 $538K/7 $346 $301 -15% Condos None listed         All Uni Park $624K/12 $538K/7 $346 $272 -15% All Irvine $650K/575 $502K/266 $349 $305 -4.70%   The following graphs show the change in the number of University Park homes on the market, the price per square foot of University Park houses, and the price per square foot of University Park condos, respectively. To give more meaning to these numbers and graphs, I am listing some homes that are near the top, bottom, and middle of the price range for homes in the University Park real estate market. 4882 Rain Tree Lane • Single-family built in 1974 • Beds/Baths: 5/2.75 • HOA Dues: $131/month • Mello Roos Tax: No • Price: $769,000/$306 per square foot The Zestimate for this home is $741,100. The Zestimate estimated mortgage is $2,809 per month. 6 Cherry South Note: According to Redfin, this is the least expensive University Park home that is not listed as “sale pending.” • Single-family built in 1975 • Beds/Baths: 2/1.75 • HOA Dues: $218/month • Mello Roos Tax: No • Price: $445,000/$364 per square foot The Zestimate for this home is $414,400. The Zestimate estimated mortgage is $1,625 per month. 71 Oak Tree Lane • Single-family built in 1969 • Beds/Baths: 2/1.75 • HOA Dues: $222/month • Mello Roos Tax: No • Price: $585,000/$390 per square foot The Zestimate for this home is $509,700. The Zestimate estimated mortgage is $2,137 per month. Source: Redfin

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